Posts Tagged ‘spending’

How to Create Unlimited Income Starting with $10

This FREE Webinar was / is available now through The MoneyMinding Foundation.  There was a huge response which really isn’t a huge surprise given the message so incase you missed it – you can access the recording here.  Below is the information on the event that I promise is packed with information and isn’t just a gimmick to get you sign up for some investment or business strategy.

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Waaaayyy too many people don’t even take the first step because they simply don’t believe. They don’t have faith. They just can’t see how it’s even possible, so they immediately dismiss the whole idea as a scam, or deceitful tact attempting to then swoop in with some sort ‘get rich quick’ scheme. They say things like, ‘what’s the catch?’ and assume there must be a product or business strategy going to be pitched.

UUGGHH! Yes, there is wayyy too much of that and for too many years people have got their hopes up only to be disappointed so now they’re jaded. Honestly, this is Tracy speaking from her heart here, “I have been so badly burned and disappointed myself over the years, that the saddest part of what I do is to listen to the naysayers who are looking for something different and are just too tired, stressed, or beat up to keep looking.

Unlimited Income is a FREE webinar. I promise you it won’t try to sneak anything funny into the process. This program is designed to give you an introduction to the question that everyone wants to have answered, “how can I do that?”. It’s your perfect opportunity to find out more about the paradigm shift that MoneyMinding presents in personal finance, AND, what that means to you – today.

My intention is to provide valuable information that you can act on immediately if you want. I’d also like to invite you take further steps in your new money journey and this event will help you figure out where and how to begin.

Click here for dates, times, and / or recordings to register!

Looking forward to sharing the ‘how’ with you!!

Write a New Money Story

Nobody likes to talk about money except financial professionals who do it for a living.  Even then they will talk with their clients about their money, and they’ll discuss the markets and different money strategies, but they will rarely discuss their own finances.

Money is a extremely personal and intimidating subject regardless of whether you have millions or minimums.  Because of this everyone is left to make up their own rules through trial and error and ad hoc learning.  (or maybe this is why it’s so intimidating, but that’s a chicken and egg story to explore later).

The ‘shoulds’ and ‘should nots’ about how to manage money are adopted over time and become our beliefs from which we make our money decisions.  But are these beliefs really serving us?  The problem is that once you have a belief about money you will hold onto it and are unlikely to question that underlying belief.  This means that you’ll make your financial decisions in line with your core beliefs – which have been adopted over time by ad hoc learning and trial and error – and may or may not be serving you.

A great example of this is the commonly expressed idea that all you have to do is ‘live within your means’.  Or said another way, ‘all you have to do is ‘spend less than you earn’.  But a subtle shift in perspective will accomplish the same thing in a way that actually increases your capacity with money, rather than reinforcing fear, scarcity and dependency.  This shift is ‘all you have to do is earn more than you spend’.

It’s only when you are faced with a significant financial situation that you’re likely even be open to new ideas that challenge your beliefs.  But, given the current economic climate it seems that people who have been intimidated to ask questions or to look at alternative views to solve their money issues are going to have to shift their beliefs quickly if they’re going to be able to navigate the changes on the horizon.

As we start the New Year, here are a two key financial areas that will challenge the conventional view of money.  These concepts are necessary to help create a paradigm shift in your thinking which will ultimately affect your plans and your results:

1.  Debt.  ‘Get out of debt’ teaching will sabotage our society; plus reinforce scarcity, inferiority and guilt.  The reason anyone wants to get out of debt is to use their money more effectively and ultimately so they have more money to spend and invest to create more wealth which creates more income which gives them more money to spend and so on and so on.

The goal is to have money to spend.  And spending money fuels the economy which is good for everyone.  This doesn’t mean that everyone should keep their unproductive debt or spend frivolously.  It means that to do a complete debt evaluation and create a debt management system, you have to develop a strategy to manage the current situation, then create income to fuel your lifestyle, and finally find out how to use this powerful tool called credit effectively to enhance your wealth.

Re-write ‘get out of debt’ and substitute it with ‘earn more income to support my lifestyle’.

2.  Retirement.  The concept of retirement is almost impossible today.  The idea of working then not working and living off your pension and your savings has only appeared to have worked for one generation throughout history:   the generation immediately following World War II.  It is virtually impossible to save enough to support your pre-working lifestyle in today’s economy.  And even if you do manage to do it, you will spend your working life wondering if you’ve saved enough and if you’re getting a good enough return on your money.  Then when you stop work you’ll be concerned with not losing what you have, or not having enough so that anyway you look at it, the concept of retirement in the conventional view is going to cause you to have financial stress.

The real plan is to become financially independent so you have enough income to support your lifestyle, whatever that might be.  This may or may not come from savings and in all likelihood is best to come from several different sources.

Re-write ‘retirement’ as ‘financial independence’ and start learning about ways to earn sustainable income outside of your job.

The biggest challenge you will find is that the commonly accepted language and strategies will all revolve around these 2 primary, seemingly sound, financial activities.  Financial professionals are trained to help their clients make investment and lending decisions and their products and services are primarily debt and investment products that are not about helping create sustainable income for life.  They can help you with income products once you have some money, but the fuel for your entire financial plan as well as for your life requires you to be able to create income that will fuel your lifestyle without you having to work 40+ hours a week until you die.  When you can take this approach your discussions with your financial advisors will open possibilities for different products and services and strategies where flexibility is important and rate of return is less important.

This means, that you will be a minority, but statistically speaking the minority is the group that ultimately has the wealth J  Happy Writing!

PS – There’s a ‘makeover’ underway at MoneyMinding.  Make sure you subscribe at www.moneyminding.com to get the new ‘Triumph Over Money’ report, and the be the first to hear about the MoneyMinding Makeover with mVillage special for only $10/month, or $100 a year!

Do You Have Plans for Prosperity or Are You Just Hoping?

For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future.Jeremiah 29:11 NIV

When it comes to money, I am convinced that the majority of people today would likely interpret this verse for themselves as, ‘…plans to hopefully prosper me financially, not to cause me to suffer financially, plans to hopefully give me a brighter future.’

Of course, I could be totally wrong, but if the percentage of people I talk to on a daily basis about some aspect of money is any indication, then I would be inclined to say we have an epidemic of financially worried people carrying a virus of doubt and fear into the majority of their everyday financial decisions.

If the  Lord ‘declares’ that He has plans to give us a hope and a future, then any sort of financial doubt means we are fretting needlessly.  This leads to guilt, and self-condemnation, which in turn creates a downward spiral of low confidence and ultimately a self-sabotage of more lack.  Certainly this isn’t the life the Lord has planned for His people.

Obviously if breaking this paradigm was as easy as saying, ‘just believe’ then any positive thinking, self-help book would have the answer and anyone who’s read one would be rich and successful!

But what is prosperity anyway?  It’s not dollars and cents, and it’s not something we do on our own.

To apply the prosperity mentioned in Jeremiah 29:11 to money in real life today, you have to start by recognizing whenever you are trying to control some aspect of money in your life:  spending, saving, giving, insuring, borrowing, paying, earning, judging others, working, comparing, wishing,…(or not).  Then whenever you catch yourself in some aspect of financial doubt, lack, or judgement, simply thank the Lord or all He has provided and praise Him for knowing the plans He has for your life.  Do this for a day, then a week, then a month, and keep going…you are building confidence which is the foundation to help you learn and apply additional practical strategies to your ongoing real life financial decisions!

If you’d like to join me and others to explore God, Money and Real Life, please contact me at tracy@moneyminding.com or 250-592-0457 for more information.  Or make sure you read The Death by Money Report available at www.deathbymoney.com for additional information on the paradigm shift required to make immediate and lasting positive financial changes to your life!

 

 

New MoneyMinding Minute on Mini Budgets to Make You Money

It doesn’t have to be big and complicated – in fact it’s more powerful if you break down your spending into bite size pieces and pre-plan when and how much you’ll spend. This way spending is more intentional and this process becomes a key piece to building a budget that makes you money.  Watch the video here:      http://youtu.be/WRFEIcHHvWw

Make sure you click ‘LIKE’ to spread the word – and take adantage of an mVillage membership to access additional tips, tools and resources on creating and managing wealth building budgets.  Find out more from www.deathbymoney.com

Why Getting Out of Debt Can Sabotage Your Financial Success

Contrary to conventional wisdom, financial freedom doesn’t happen when you have no debt.  In fact, the road to debt freedom and the process of maintaining it will actually halt your progress.  That’s not to say that you should run out and rack up your credit cards and abandon your debt – that’s just irresponsible.  It’s to say that the missing key to financial success; to reducing financial uncertainty; to experiencing financial peace – doesn’t happen when you have no debt.

When you have access to credit you have access to an incredibly powerful wealth building tool.  If you use it incorrectly, you don’t get the results you’re looking for.  When you appreciate it for what it can do, and you take the time to know how to use it effectively, you can experience its full potential in ways you didn’t previously know existed or were too fearful to act on.

The problem is that this powerful tool called credit has been provided easily without adequate instructions.  Sure, there are the basic operations such as how to make purchases and payments, and what the interest charges are and the consequences of not making payments.  These are the just the basics.  Unfortunately because the more advanced operational instructions haven’t been taught, or have been misused, we have millions of people using the tool who don’t even know that they don’t know that there are better ways of using what they already have.

Think about it. Do wealthy billionaire tycoons like Donald Trump make financial decisions about how to pay off the mortgages on their skyscrapers?  Not likely.  They have learned to use credit to acquire an asset that creates income which pays for the expenses of the building as well as the credit that was used to make the purchase in the first place.

The bigger problem we have with this focus on getting out of debt is that far too many people have been given access to credit and have used it to acquire the lifestyle they want, rather than using it to earn that lifestyle.  They know how to work for a living and how to access credit, but then they listen to scarcity minded teachers who haven’t fully grasped the concept of how our economy operates.  For some strange reason, many people seem to think that by taking money out of the economy by stopping spending so they can get rid of debt that they have been told is ‘bad’ that somehow they’re going to be able to live happily ever after.  This is partly because they haven’t received the proper instructions on how to maximize the tool they have in the form of credit but also because they have lost the ability to understand how to create income.

Haven’t we heard from some great success teachers about the concept of ‘what you focus on expands’?  If you focus on what you don’t want then aren’t you really telling yourself that you’re not worthy of the desires you have been acquiring with this tool called credit?  Does negative reinforcement really inspire confidence to learn and to develop new skills?  Does cutting back and denying your interests ultimately help you learn how much money you really want to earn so you can live the lifestyle you really want to live?  There is a balance that happens naturally when you are committed to your vision.

When you focus on getting out of debt you are actually reinforcing lack, scarcity, fear and unworthiness.  Sure, some non-deductible debt with high interest rates is better gone – but the way to get rid of it is to focus on creating income. You have to find ways to earn the lifestyle you desire, rather than acquiring it with plastic cards.  And when you can master that skill, the income will be sufficient to look after the debt and your desires, and then we can all live happily ever after!

Visit www.deathbymoney.com to find out more about how to practically apply this concept in real-life.